KYIV, January 12, 2024. EY successfully completed the appraisal phase of the PPP project for the issuance and distribution of identity documents and operation and servicing of the ID facilities in the Republic of Armenia (the Project). The Project has now moved to the tender stage (request for qualification), which was announced on 3 January 2024.
This is the pilot PPP-based transaction in Armenia aimed at introducing a whole new level of customer experience at the ID facilities. The private partner chosen based on competitive selection procedure will be required to operate and maintain the relevant Project assets (primarily enrolment and personalization facilities), as well as provide services and operations at such assets in accordance with the high quality standards and technical requirements. The Ministry of Internal Affairs (the grantor) will conclude the PPP contract with a private partner for the 11-year Project period.
EY team is represented on the Project by EY Lithuania, EY Armenia and EY Ukraine, acting jointly as the transaction advisors to the Government of Armenia and performing the following roles:
EY Lithuania – lead transaction advisor. Key team members: Arturas Piliponis (Project Supervisor), Lina Petruskeviciute (Project Lead Manager).
EY Ukraine – international legal counsel, international advisor on the financial and commercial matters. Key team members: Bogdan Malniev (International Legal Team Lead), Andrii Moskaliuk (International Legal Team Manager), Mykhailo Prykhodko (International Financial/Commercial Team Lead), Oleksandr Kurinnyi (International Financial/Commercial Team Manager).
EY Armenia – local legal counsel, local advisor on the financial and commercial matters. Key team members: Eric Hayrapetyan (Local Legal Team Lead), Grigor Grigoryan (Local Legal Team Manager), Sarkis Amirdzhanyan (Local Financial/Commercial Team Manager).
At the appraisal stage, EY completed the following key assignments:
- Developed the business case laying down the commercial, financial, technical, legal and other essential elements of the transaction
- Developed the financial model and risk allocation matrix for the transaction
- Assisted with conducting the market sounding for the Project
- Prepared the term sheet, technical requirements and other Project documents for discussion with the potential investors
- Developed draft tender documents required for the launch of the selection procedure (request for qualification, request for proposal, PPP contract).
EY will further provide the targeted support to the Government of Armenia at the tender and contract signing stages to achieve the successful commercial and financial closing of the transaction.
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